Analyst Lifts Cava Group Price Target to $84 After 9.7% Q1 Sales Growth
Cava Group reported Q1 revenue of $438.3 million and adjusted EPS of $0.20, driven by 9.7% same-restaurant sales growth and a 6.8% lift in guest traffic while opening 20 net new locations. D.A. Davidson raised its price target to $84 and boosted full-year adjusted EBITDA guidance to $181M–$191M.
1. Q1 Financial Results
Cava Group delivered first-quarter revenue of $438.3 million and adjusted earnings per share of $0.20, surpassing analyst projections and marking a notable top- and bottom-line beat.
2. Sales Growth and Footprint Expansion
Same-restaurant sales rose 9.7% and guest traffic increased 6.8%, while the chain added 20 net new outlets, bringing its total to 459 locations and fueling a 32.3% jump in restaurant-level profit to $108.9 million.
3. Analyst Upgrade and Targets
In response to the strong quarter, D.A. Davidson raised its price target on Cava Group stock from $80 to $84, implying a 3.36% upside based on the prevailing share price.
4. Updated Full-Year Guidance
Management lifted its adjusted EBITDA forecast to a range of $181 million to $191 million for the full year, underscoring confidence in continued operational momentum and profitability.